Envestnet Asset Management Inc. Sells 196,458 Shares of Ford Motor Company (NYSE:F)

Envestnet Asset Management Inc. cut its position in shares of Ford Motor Company (NYSE:F) by 10.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,720,302 shares of the auto manufacturer’s stock after selling 196,458 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ford Motor were worth $17,255,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Grove Bank & Trust lifted its position in shares of Ford Motor by 289.1% in the first quarter. Grove Bank & Trust now owns 2,533 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 1,882 shares during the last quarter. Elite Financial Inc. acquired a new stake in Ford Motor during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in Ford Motor during the 1st quarter worth approximately $28,000. MorganRosel Wealth Management LLC acquired a new stake in Ford Motor during the 1st quarter worth approximately $30,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Ford Motor during the 4th quarter worth approximately $31,000. 58.74% of the stock is currently owned by institutional investors.

Ford Motor Price Performance

Ford Motor stock opened at $11.17 on Friday. The company’s 50 day simple moving average is $10.79 and its 200-day simple moving average is $10.11. The company has a market capitalization of $44.41 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49. Ford Motor Company has a 1 year low of $8.44 and a 1 year high of $14.85. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.97 and a current ratio of 1.13.

Ford Motor (NYSE:F) last issued its quarterly earnings data on Monday, May 5th. The auto manufacturer reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.16. The business had revenue of $40.66 billion during the quarter, compared to the consensus estimate of $35.99 billion. Ford Motor had a net margin of 2.74% and a return on equity of 13.49%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. As a group, equities research analysts expect that Ford Motor Company will post 1.47 earnings per share for the current year.

Ford Motor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 5.37%. Ford Motor’s payout ratio is 48.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on F. UBS Group lifted their target price on Ford Motor from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday. Wall Street Zen downgraded Ford Motor from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Sanford C. Bernstein downgraded Ford Motor from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $9.40 to $7.00 in a research note on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Ford Motor from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Barclays boosted their target price on Ford Motor from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.30.

Insider Activity

In related news, insider Andrew Frick sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $11.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider owned 113,939 shares of the company’s stock, valued at approximately $1,253,329. This represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

About Ford Motor

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.